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105 Million Nigerians Now Extremely Poor, New World Poverty Report Reveals

More than 105 million Nigerians are extremely poor, according to new data from the World Poverty Clock.

In September 2020, a total of 40.1 per cent of Nigerians lived in extreme poverty.

This number has drastically changed, however, in less than two months.

The data seen by SaharaReporters on Thursday reflects the impact of the Coronavirus pandemic on living conditions in the country.

Nigeria has a total population of 205,323,520 people — of that number, 105,097,856 representing 51 per cent of the county, the data records.

51% of Nigerians now live below $1.90 or N855 a day.

The data further shows that more men in Nigeria are extremely poor compared to their female counterparts.

Around 53,133,553 million men are living below the poverty threshold while 51,564,303 of women are also extremely poor.

The model also provides a target escape rate that Nigeria must meet to escape extreme poverty—it is set at 0.3 people per second.

Current data, however, shows that Nigeria falls short of this target with -4.4 people escaping poverty per second.

About Editor

Otunba Sayo Akintola is a 1992 graduate of Linguistics from the University of Ibadan, Oyo State. He holds a post-graduate diploma in Financial Management and MBA from Abubakar Tafawa Balewa University, Bauchi. He started his 12-year sojourn in journalism at the Nigerian Tribune in 1993 as Business and Economy reporter. He rose through the ranks to become the Group Business Editor of the nation’s oldest surviving private national newspaper, the Nigerian Tribune. He set up World Street Journal magazine in 2018.

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